Energy Transfer LP (NYSE:ET – Get Rating) – Investment analysts at US Capital Advisors issued their Q2 2022 earnings per share estimates for Energy Transfer in a research note issued on Wednesday, June 1st. US Capital Advisors analyst J. Carreker expects that the pipeline company will earn $0.23 per share for the quarter. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Energy Transfer’s Q3 2022 earnings at $0.26 EPS, Q4 2022 earnings at $0.28 EPS, FY2022 earnings at $1.14 EPS, Q1 2023 earnings at $0.27 EPS, Q2 2023 earnings at $0.26 EPS, Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.31 EPS, FY2023 earnings at $1.12 EPS and FY2024 earnings at $1.15 EPS.
A number of other brokerages also recently weighed in on ET. Mizuho raised their target price on shares of Energy Transfer from $13.00 to $14.00 in a research note on Friday, February 18th. Morgan Stanley raised their price objective on Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Raymond James boosted their target price on Energy Transfer from $13.00 to $14.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 17th. Finally, Zacks Investment Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, March 30th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $14.00.
Energy Transfer (NYSE:ET – Get Rating) last released its earnings results on Wednesday, May 4th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The company had revenue of $20.49 billion during the quarter, compared to analysts’ expectations of $18.79 billion. Energy Transfer had a return on equity of 10.25% and a net margin of 4.58%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. FMR LLC bought a new stake in shares of Energy Transfer during the 1st quarter valued at $16,012,000. First Trust Advisors LP bought a new position in shares of Energy Transfer in the first quarter worth about $4,660,000. Geode Capital Management LLC raised its stake in shares of Energy Transfer by 8.3% in the third quarter. Geode Capital Management LLC now owns 147,665 shares of the pipeline company’s stock worth $1,414,000 after buying an additional 11,276 shares during the period. Hsbc Holdings PLC lifted its position in shares of Energy Transfer by 72.7% during the 3rd quarter. Hsbc Holdings PLC now owns 38,223 shares of the pipeline company’s stock valued at $364,000 after buying an additional 16,084 shares in the last quarter. Finally, Ameritas Investment Company LLC grew its stake in shares of Energy Transfer by 23.3% during the 3rd quarter. Ameritas Investment Company LLC now owns 18,035 shares of the pipeline company’s stock valued at $173,000 after acquiring an additional 3,410 shares during the period. 48.40% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael K. Grimm purchased 504,600 shares of the company’s stock in a transaction dated Wednesday, April 6th. The shares were purchased at an average price of $11.21 per share, with a total value of $5,656,566.00. Following the acquisition, the director now directly owns 181,089 shares in the company, valued at approximately $2,030,007.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.28% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Monday, May 9th were issued a dividend of $0.20 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend was Friday, May 6th. Energy Transfer’s dividend payout ratio is presently 75.47%.
About Energy Transfer (Get Rating)
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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